Range Resources Corporation (RRC) Leads Basic Materials Laggards with a drop of 5.07% on September 14
Range Resources Corporation (RRC) was one of the weakest stocks in the basic materials sector of the NYSE and NASDAQ listed companies on September 14, skidding 5.07% to close the day at $39.3 after closing the day prior at $41.4. Throughout the day, shares of RRC traded as high as $42.03 and as low as $39.06. Today's decline came with about 5.51 million shares changing hands, compared to an average 30-day volume of 2.77 million for Range Resources Corporation. The price is currently below the 30-day volume weighted average price of $40.2 for RRC.
The share depreciation gives the company a market capitalization of $7.05 billion based upon 170.09 million shares outstanding. It also means that RRC has a price-to-book ratio of 2.86:1.
In the past 52 weeks, shares of RRC have traded as low as $19.21 and as high as $46.96. Technical traders will take note that at $39.3, shares of RRC are trading above their 200-day MA at $34.99 and below their 50-day MA at $40.98. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is RRC?
Range Resources Corp is a Texas-based independent natural gas, natural gas liquids and oil company. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties in the Appalachian region of the United States. The company’s 744 employees are led by CEO Jeffrey L. Ventura from the corporate headquarters at 100 Throckmorton Street in Fort Worth, TX.
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Source: Financial Press News
(September 15, 2016 - 11:56 AM EDT)
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